Who is the IASB kidding?
July 16th, 2009
The IASB has issued a two page plus new accounting standard for small and medium sized enterprises. As Accountancy says:
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The international standard-setter has today published its long-awaited International Financial Reporting Standard for SMEs after five years of consultation on the standards.
The International Accounting Standards Board aimed to produce a standard which is less complex than full IFRS and which would improve comparability for SME users of accounts, who comprise 95% of businesses.
Commenting on the standard, IASB chairman Sir David Tweedie said: ‘For the first time,...